Swarmcoin & Ether

JonstonJonston Member Posts: 21 ✭✭
Swarmcorp is currently selling swarmcoins for BTC. People involved in Ethereum are supposedly also helping Swarmcorp. I've heard Swarm described as a front end to any protocol - effectively becoming a vending machine for Ether, Mastercoin, Counterparty coins, or any other metacoin created by these protocols. How would Ethereum and Swarm fit together in the bitcoin 2.0 ecosystem?

Any thoughts are welcome!


  • JasperJasper Eindhoven, the NetherlandsMember Posts: 514 ✭✭✭
    So it is essentially a crowdfunder system with a slight tax that supports the crowdfunder itself? Suppose it might be nice for bitcoin users, but afaik Ethereum itself will do better than a 1% tax.(1% tax, indefinitely?..) Feel there is kindah little information on their main website. If it is a front end to any protocol... the website is even moreso lacking in info..

    Anyway, half a year before Ethereum is even online, so, maybe they're quicker. Dunno if counterparty has any potential advantage over Ethereum with regard to doing stuff with bitcoins. (given development, expect not, perhaps scalability, given that Ethereum hosts other things aswel)
  • VitalikButerinVitalikButerin Administrator Posts: 84 admin
    edited June 2014
    > People involved in Ethereum are supposedly also helping Swarmcorp

    I'm indepdendently advising them as an invididual, much like I do many other projects. There's no connection between the two organizations.
  • JonstonJonston Member Posts: 21 ✭✭
    @vitalik‌ Thanks and great job. Keep on doing what your doing!

    SWARM is a distributed crowdfunding platform.

    If you own SWARMcoin you are rewarded by a percentage of equity from all the businesses in the SWARM network.
    - For example, if you have a great Bitcoin business idea you can get it funded through SWARM. Your business would issue its own token on the Counterparty protocol and act as digital shares for the company.

    The SWARM network would receive a percentage of your company’s token and have it funneled back to the SWARMcoin holders.

    The beauty of this is you don’t strictly need venture capitalists to fund businesses. The capital comes from all the participants in the network who are SWARMcoin holders. This levels the playing field, allowing anyone with an internet connection to participate and invest. Unlike Kickstarter you now have a stake in the companies you fund because their tokens can be traded on the free market. The SWARM network decides which businesses they want in the network by due diligence and voting with SWARMcoins.

    SWARMcoin is being issued on the Counterparty protocol and will utilize Vennd (both are open source).

    I can imagine Swarmcorp could equally be running on top of Ethereum in the future!
  • eteflamingoeteflamingo Member Posts: 20
    Honestly I liked the idea but, this sounds crazy, they asking for 21,500 BTC which is almost $13 million dollars and to me, it's a lot of money for this kind of project. I understand everybody who participate will get shares, when I checked their website they didn't mention a single word about what if the project didn't reach the goal ? I mean, it sounds risky people may loose their money unless they planning to refund those bitcoins.
  • JonstonJonston Member Posts: 21 ✭✭
    @eteflamingo Lot's of scams out there but they seem genuine and behave like it. Time will tell...I like the concept and as all early stage investments in a BTC world they are risky but the rewards bigger. So far they have received https://blockchain.info/address/12GZL7shupvmHapCmhw81GDa5GmaTqaZdk

    They have huge ambitions and 21,5k BTC is a reflection of that. Contact them with your questions and always apply due diligence!

    FYI: I do not have any affiliation with them. Just curious, absolutely loving these types of technologies and see potential in the whole ecosystem!

  • maidenlakemaidenlake Member Posts: 44 ✭✭
    @Jonston I really like SWARM's concept, too, and hope it will run on top of Ethereum in the future as you suggested.
  • jp78jp78 Member Posts: 4
    Well swarm seems like a good idea with a platform. Something that could definitely hold value. I could see this running of the ethereum network. Put this with a contract and it would be amazing! No greedy people or all controlling.
Sign In or Register to comment.